CommBank an Australian bank dealing in retail, business, premium, and institutional banking, superannuation, funds management, and share broking products and services. It offers modern-day banking services at the tip of the finger to Australia-based users and aims to meet commitments made to its consumers.
Mambu, a SaaS-based cloud banking services provider has been chosen by CommBank or Commonwealth Bank of Australia (CBA) as a technology partner for Unloan, its new-age digital mortgage brand, Unloan. It is to be the next big thing in the mortgage industry of Australia, as it will provide loan refinancing applications within 10 minutes and a discount is offered that increases every year for the next 30 years.
Brendan Harrap, Chief Architect, CBA, stated, “We’ve selected Mambu to underpin our new home loan brand, Unloan, and look forward to working closely with Mambu as we continue to digitally transform our suite of CBA Group brands. Partnering with Mambu is an investment in future-proofing CBA. Mambu’s SaaS cloud banking platform will enable us to bring in best-in-class solutions from other high-performing FinTechs and vendors, build financial solutions that meet the demands and expectations of our customers, and retain our position as Australia’s leading bank.”
Mambu aims at bringing financial services technology and banking into the digital-first world which could be accessed by all. It empowers its customers to have great modern financial experiences and serves FinTech startups, top-tier banks and more.
Werner Knoblich, Chief Revenue Officer, Mambu, commented, “There has been a profound shift in the way people think about their finances over the last two years, with a significant acceleration in the adoption of digital technologies and greater expectations from consumers. People aren’t content to just get what they’re given anymore; they want personalised customer service and products that are tailored to their circumstances. That’s what Mambu can enable at a fraction of the cost and much more quickly than traditional banking technology. We are so excited to be working with CBA as it takes this next leap into the digital future.”